Diddy: From bad boy to billionaire
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Sean Combs is a wealthy man. So how did he make his fortune?
Source: Getty Images
P. DIDDY. Puff Daddy. Diddy. All of these names represent one person: Sean Combs.
The hip-hop mogul isn’t quite a billionaire, at least not yet, but his influence on popular culture as a whole is apparent.
According to Forbes, Diddy is now worth $ 756 million. While he’s surely making his way towards a tenth figure, he didn’t reach this level of fame and wealth without some help — actually, a lot of help.
Growing up in New York, dropping out of college, becoming an A&R prodigy and skyrocketing from there, Sean Combs is one of the ideal self-made stories. But what if he isn’t all that self-made? Puff’s fortune, and what went into building it, came with help every step of the way.
It’s all thanks to the man who discovered him and gave him his first job, his first artists signed to Bad Boy Records that would become hip-hop immortals, and his venture capitalist buddies who put out blank checks for his business endeavours.
Here’s a timeline of Diddy’s ascent and the individuals making it all happen:
Sean Combs is a star. It says so on the footpath.
Source: AP
1988: Andre Harrell
Andre Harrell is the man responsible for discovering Sean Combs, hiring him as an unpaid intern at Uptown Records where he’d become a quick rising A&R director and, ultimately, Puff Daddy.
By 1993, Harrell fired Puff, who’d already become a star and calls the termination “one of the best things that could’ve happened to me.”
The two have continued working together with the tables turned. Combs hired his former mentor for positions with his own ventures, which would soon be president of Bad Boy Records and Revolt TV chairman.
Doesn’t Puff Daddy look young here?
Source: News Corp Australia
1993: The Notorious BIG
Between developing artists like Mary J Blige and producing hit records at Uptown, Puff’s greatest discovery as an intern was The Notorious BIG.
When he left to form Bad Boy Records in 1993, he took Biggie with him. Juicy became one of the first singles released on Puff’s new label, and Ready To Die was that first album. The rest was history.
That’s the Notorious BIG on the left … the big one.
Source: AP
1997: Mase, Faith Evans & 112
Puff waited for Bad Boy to become an empire before releasing an album of his own. By 1997, the label had over $ 100 million in music sales, and he’d been named ASCAP’s “songwriter of the year.” At last, he stepped up with No Way Out.
Selling over 7 million copies to date, Puff’s debut album wouldn’t have been the same without the best efforts of his team, carried by lead single Can’t Nobody Hold Me Down with Mase and I’ll Be Missing You with Faith Evans & 112.
He’s number one, just ask him.
Source: News Corp Australia
2002: N*SYNC
Now going by P. Diddy, the mogul’s entertainment prowess was expanding in all different directions.
Having already played select shows with Britney Spears, Diddy signed on as an opening act for N*SYNC’s Celebrity Tour — something, at the time, unheard of in hip-hop.
No caption necessary.
Source: AP
2003: Ron Burkle
If P. Diddy has ever had a sugar daddy, it’s Ron Burkle. At a net worth around $ 3 billion, Burkle is a partner of the private equities and venture capital firm that’s merged some of America’s biggest supermarket chains.
In addition to becoming one of McDonald’s suppliers, Burkle has raised nine figures for the Democratic Party, and somewhere along the line, he met P. Diddy.
He invested $ 100 million into Sean John for retail expansion, and would continue to be Diddy’s go-to venture capitalist.
Oh that’s just Ron Burkle hanging with his mate Bill Clinton. No biggie.
Source: AP
2004: Mark Cuban
Sometime early into the 2000s, Combs made another fat-pocketed pal in Mark Cuban. Two years later, he was designing the Dallas Mavericks’ alternate jerseys.
The Mavs wore the Diddy-designed jerseys more than 10 times during the 2004-2005 jersey, although they lacked any magic that could take them beyond the second round of the playoffs.
Mark Cuban owns the Dallas Mavericks. AKA he’s loaded.
Source: Supplied
2004: Zac Posen
Twenty-three-year-old fashion whiz Zac Posen caught the eye of P. Diddy as the hip-hop mogul was going all-in on apparel. The two struck a joint venture deal that had Sean John investing in Posen’s design company and becoming an equal partner.
Here’s designer Zac “Posen” on the red carpet … see what we did there? Clever.
Source: Getty Images
2005: Danity Kane
Drop the P. The man now known more simply as Diddy had picked up the televised talent search of Making The Band.
Where the first instalment spawned boy band O-Town, the next act couldn’t live up to the same success and Da Band became better known for their infamous cheesecake walk than their music.
It wasn’t until Making The Band 3 that Diddy would be able to break artists on MTV with Danity Kane and later Day26. But really, Danity Kane.
Diddy performs with Danity Kane. For those playing at home, Diddy’s in the middle.
Source: AP
2007: Diageo
When Diddy signed on to become the face and partner of Ciroc, the Diageo vodka brand was moving just over 100,000 cases per year. Today, that number is north of 2 million.
Diddy’s stake in Ciroc is estimated to be worth somewhere in the nine figures, a significant piece of his net pie. Continuing to build on his rolodex of spirits, he again linked up with Diageo this year for DeLeón tequila, a similar deal with hopes of similar success.
Not very many men can wear velvet well. Diddy can.
Source: Getty Images
2008: Liz Claiborne
Another acquisition for Sean John, another apparel move for Sean Combs.
With help from partner Ron Burkle, Diddy purchased Enyce clothing from Liz Claiborne for $ 20 million, adding another company to the Sean John family.
The $ 20 million, however, was a discounted or depreciated rate — Enyce had been worth over $ 110 million five years prior.
Suave in Cannes.
Source: AFP
2010: Russell Brand & Jonah Hill
Diddy had made film cameos here and there and eventually made a bigger attempted break into acting when he was cast as the lead in A Raisin In The Sun.
But he’d still been a producer, rapper, and entrepreneur all before actor. Appearing in Get Him To The Greek as a fictional version of himself named Sergio, Diddy’s acting chops shined alongside Russell Brand and Jonah Hill, who seemingly brought out an inner knack for on screen comedy.
What Diddy he say?
Source: Supplied
2014: Mark Wahlberg
Are you even an entertainer gone entrepreneur if you don’t have your own line of water these days? Maybe missing the Vitamin Water boat, like fellow Forbes-lister 50 Cent, Diddy teamed up with Mark Wahlberg for AQUAhydrate.
Claiming his inspiration to be growing up on Kool-Aid and soda because he didn’t like the taste of water, he pitches his own brand of H2O for its taste, energy, focus and recovery (hangover remedy).
At AQUAhydrate’s launch announcement, Diddy and Wahlberg hinted there would be more collaborative ventures on the way.
Diddy and Marky Mark. What a funky bunch.
Source: AP
2014: Time Warner Cable
He might go by Puff Daddy again, but his latest business move couldn’t be more Diddy. Now he owns his own cable network, Time Warner’s Revolt TV.
It’s to be to music what ESPN is to sports, Revolt TV focuses on all things music from videos to live performances and artist insight, also expanding as a multi-media platform. He might not be a billionaire yet, but this venture should be what eventually puts him over that threshold.
This article was written by Dylan Farella from Elite Daily and was legally licensed through the NewsCred publisher network.
